October 2008

There are 3 blog entries for October 2008.

Douglas County Housing Partnership (DCHP) has recently rolled out a "Shared Equity" with Housing Partnership program. DCHP will provide downpayment assistance funds up to 20% or $50,000, whichever is smaller, to help bridge the difference between lender requirements and the buyers resources.

The funds are a deferred loan which must be paid back upon sale or refinance. Upon such event the funds must be reimbursed at the same % of investment. For example, if DCHP invests 20% for downpayment of your home, they'll get 20% back whether or not your home appreciates.

Eligible parties include:

  1. First-Time Homebuyers and persons who have not owned a home in the previous 3 years, single parents that have owned prior with a spouse, and displaced homemakers.

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On August 5, 2008, the Colorado Division of Housing reported foreclosure filings rose in the second quarter of 2008 however the rate of increase is moderating.

The number of foreclosure filings provides a sound view of how many borrowers have become seriously delinquent and/in default on their home loans.

During the first quarter of 2008, 11,630 foreclosure filings were reported by Colorado public trustees.  And, in the second quarter, the public trustees reported 10,875 foreclosures.

January to June 2008, there were 22,500 foreclosure filings and there were 39,915 filings reported during the entire year of 2007.

Comparatively, the second quarter of 2007 to second quarter of 2008, Colorado sustained a 9% increase in foreclosure filings. The…
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The Denver Colorado real estate market remains a true buyers market. July’s listing inventory of 25,673 homes dropped from 26,104 listings the prior month, according to numbers recently released by Metrolist, Inc.

The drop in available housing is supported by the 5.74% increase in homes sales during the month of July as compared to 2.87% a year ago. Residential property benefited the greatest with a sales increase of 7.98% in July over June and 6.54% as compared to the same month last year. Denver area condominiums and townhouses took it on the chin though with a dip of -2.91% and -10.36% respectively.

The average days on market continually dropped during the course of the year with an year to date average of 104 days. Last month we observed a slight

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